Theresa May launches new efforts to end gender pay gap

Theresa May has said in a statement that firms need to do more to close the gender pay gap “once and for all”.

The Prime Minister said in a statement that soon all big companies will be required to publish pay gap data. She went further to say that smaller companies must also do more to play their part.

“Tackling injustices like the gender pay gap is part of building a country that works for everyone,” said May.

“Already many of the UK’s top companies are leading the way in making sure everyone’s contributions to the workplace are valued equally, and it is encouraging news that the gap has fallen this year for full-time workers.

“But the gender pay gap isn’t going to close on its own – we all need to be taking sustained action to make sure we address this,” she added.

New figures from the Office for National Statistics showed a slight increase in the gender pay gap, growing from 18.2 percent in 2016 to 18.4 percent in 2017.

TUC general secretary, Frances O’Grady, said more action was required.

“The gender pay gap will continue closing at a snail’s pace unless the government comes down much harder on employers.

“This announcement is a damp squib that will have little impact. Companies should be forced to publish their pay gaps – not merely encouraged,” she added.

Companies including TSB (LON:TSB), Virgin Media (NASDAQ:VMED) and Weetabix have had already reported their gender pay gap and have pledged action to close it.

The Prime Minister has also urged companies to help women progress through management, to ensure more females at senior levels.

“We need to see a real step change in the number of companies publishing their gender pay data and offering progression and flexibility for all employees,” said the Prime Minister on Saturday.